Times are tough and these weasels are really starting to come out of the woodwork. We have all seen these commercials as of late and also you see them advertising full page advertisements in newspapers across the country with some of them using an antiques roadshow theme. As a collector of coins and such I beg of you to get more than one opinion on any gold or silver jewelry or coins you might have. I know of cases where rare coins worth many hundreds of dollars have been bought for their melt value. I used to work in a coin shop many years ago and an honest transaction would be a ten percent spread or so between the buy and sell side. I would suggest even a search on EBAY might give you an idea as to the worth of certain collectibles.
CASH FOR GOLD SCAM. (rant)
- Thread starter gn1090ss
- Start date
I find it hard to believe that anyone would be stupid enough to fall for those things and send their jewelry off through the mail and just sit and wait for somebody (unseen) to evaluate and send back money. 
If I had jewelry to sell (ya right!) it would only be taken to someone I can see and interact with.
If I had jewelry to sell (ya right!) it would only be taken to someone I can see and interact with.
Just a Six??
OK! Who Farted??
- Joined
- Jul 4, 2003
You got it!!
You my friend are 100% correct. These Cash for Gold ads are a SCAM. Do not fall for them. There are many factors that make up the retail price for a jewelry item. The cost of doing business and labor included. All of which is lost when you sell off to these vultures. All they do is calculate the actual gold content and give you a percentage of it. You lose. I have had clients fall for this and regretted it. A customer of mine received $12.00 in the mail for a chain she purchased for $69.00. Hardly worth the postage. Pure Gold has a value of $37.50 per gram as of this morning. 14KT is 58.5% pure Gold. It would be my guess that much of the jewelry being sent in is not melted, but resold at retail. If not then slightly discounted. I have seen these guys appear several times over the years. Believe me when I say that reputable jewelers have very little to do with this practice. I only take gold as part payment occasionally.
dr_frankenstein
Mad Scientist
- Joined
- Mar 17, 2008
too bad you dont have a "budget" jewery line up.....cause i would buy a turbo for every girlfriend i have! very nice stuff!~
A.j.
turbo nasty
Turbo Dojo / MNTR
- Joined
- Jul 19, 2001
I had to laugh at the commercial they had with Mc Hammer.
gold hogs
as a manager of a pawnshop me and the other manager of the other store went to one of these with some of our higher end pieces. large neck chain, a few rings with one being just under a carat. being in the business i knew what they were worth but decided to try it anyway. they offered me ALOT less then fair market value for it. the chain i would have loaned or bought for about 800 and it would have scrapped for about 12-1500 at the time. the chain they offered me 250 and 100 on the ring with the diamond. they were set up in a nice hotel and had a line of people waiting to sell them their stuff. those guys are nothing but crooks, well it depends if you think your getting a good deal and are happy with the price then it's all you. but being in the business i knew they were crooks. i walked out and started talking to a few people who were waiting to do business with them but they had hotel security walk us out. if you really have something worth selling then try some gold and diamond dealers and try more then one place. for some reason they think your a dope fiend looking for a quick buck. also do some research on what you have and check gold prices. gold prices always go up when the economy is down.
as a manager of a pawnshop me and the other manager of the other store went to one of these with some of our higher end pieces. large neck chain, a few rings with one being just under a carat. being in the business i knew what they were worth but decided to try it anyway. they offered me ALOT less then fair market value for it. the chain i would have loaned or bought for about 800 and it would have scrapped for about 12-1500 at the time. the chain they offered me 250 and 100 on the ring with the diamond. they were set up in a nice hotel and had a line of people waiting to sell them their stuff. those guys are nothing but crooks, well it depends if you think your getting a good deal and are happy with the price then it's all you. but being in the business i knew they were crooks. i walked out and started talking to a few people who were waiting to do business with them but they had hotel security walk us out. if you really have something worth selling then try some gold and diamond dealers and try more then one place. for some reason they think your a dope fiend looking for a quick buck. also do some research on what you have and check gold prices. gold prices always go up when the economy is down.
I'm not sure what you mean by budget jewelry, but stay tuned, I plan on doing some lower priced items also. Maybe some turbos and carbs in a mix of Sterling Silver and 10 KT. Although it's the same labor, the cost of materials would lower the price significantly. I just haven't gotten to it yet. With the price of Gold moving upward every day, combined with the way I make my stuff, it's hard for me to make something light and inexpensive. Well finished Custom work is generally more expensive partly because it is not mass produced overseas and is more labor intensive. Not to mention the fact that you don't see it in every mall store.
I also agree with datant69. Shop around to several reputable stores for estimates. Some will try to steal it from you, but there are some good guys out there too.
I keep forgetting that you're a manager of a pawn shop. I should get with you one of these days about the "toys" that get pawned and are broken. I think we may be able to benefit both of us.:biggrin: I'll send you a PM later.
manager of pawnshop
i used to manage a pawnshop for 10 yrs, did real well considering it was an independant and had a corporate store that is international down the street. my wife is still in the business ( guess that's why we make a good couple because we are like minded ). let me know what you have i still dabble in it but just don't have my own store. considered opening up one of my own but don't have the capital now.
i used to manage a pawnshop for 10 yrs, did real well considering it was an independant and had a corporate store that is international down the street. my wife is still in the business ( guess that's why we make a good couple because we are like minded ). let me know what you have i still dabble in it but just don't have my own store. considered opening up one of my own but don't have the capital now.
TR Custom Parts
Mark Hueffman - Owner
- Joined
- May 25, 2001
I am going to do this same operation but it will pertain to Buick Turbo Regal parts only. Send me all your NOS and used speed parts and I will send you what I think they are worth.:biggrin::biggrin::biggrin::biggrin:
Why anyone would send their valuables in the mail to some stranger and wait for a check is beyond me.
Why anyone would send their valuables in the mail to some stranger and wait for a check is beyond me.
I got a sign out in front of my dealership that says "we buy gold." My manager has some good experience in jewelry so we pick up scraps cheap:biggrin: I am buying as much as possible. Better than dollars anyday!
We pay way less than C4G:biggrin: Other people in the area pay more but they come to us We get a copy of their drivers license and have them on camera selling the stuff and we have them sign for it... Only had the cops come one time He said we did nothing wrong just had to give the little chain back, as it was stolen... We had the copies and homey went to jail
We pay way less than C4G:biggrin: Other people in the area pay more but they come to us
We get a copy of their drivers license and have them on camera selling the stuff and we have them sign for it... Only had the cops come one time He said we did nothing wrong just had to give the little chain back, as it was stolen... We had the copies and homey went to jailTen years or so ago I found a man's wedding band. Tried to find the owner based on the initials but finally gave up. No one ever reported it missing to the apartment manager, either. Got a flyer for one of those cash for gold companies going to be at a local hotel one Sat a few months ago so I took the ring in just to see. It weighed 2.5 grams and was stamped 10K, so not a lot of gold. They offered me $30, which I declined since I just wanted a starting price. While there I heard them tell two separate customers who had jewelry with stones that they were only paying for the gold and that they would do better to take the intact pieces somewhere else, which I thought was an honest, stand-up way to treat them. Later I tried a pawn shop who offered $25, and based on the price of gold the max would be $45-50, so the next time that company came to town I went back and they gave me $38 for it. So not all those people are scammers. I definitely recommend dealing in person and knowing roughly what your stuff is worth, as always.
I got a sign out in front of my dealership that says "we buy gold." My manager has some good experience in jewelry so we pick up scraps cheap:biggrin: I am buying as much as possible. Better than dollars anyday!
We pay way less than C4G:biggrin: Other people in the area pay more but they come to us
I know you're a business man Shane but that's not something to brag about.:redface:
salvageV6
Daily Driver
- Joined
- May 25, 2001
These people are easy to deal with IN PERSON, in NYC and post their payouts, and are refiners also so you cut out the middle men. :smile:
They post the payouts daily.
Not sure I'd mail a lot of stuff in, but in person it was a locked room, bullet proof glass, minor testing since we were honest and it was all marked 14K, and they don't want any stones, they cut them out with diagonal edge cutters.
They give you gold weight pricing, not rare antique or otherwise desirable jewelery pricing. Same price for 14K tiffany as 14K dental.
Sell Your Scrap Gold and Gold Jewelry - USGoldBuyers.com
They post the payouts daily.
Not sure I'd mail a lot of stuff in, but in person it was a locked room, bullet proof glass, minor testing since we were honest and it was all marked 14K, and they don't want any stones, they cut them out with diagonal edge cutters.
They give you gold weight pricing, not rare antique or otherwise desirable jewelery pricing. Same price for 14K tiffany as 14K dental.
Sell Your Scrap Gold and Gold Jewelry - USGoldBuyers.com
Charlie, I know exactly what you mean...
However these people come to us... Yes I have a sign up because I like to buy scrap gold. No different than me buying used cars... I will not buy something I KNOW is stolen. Believe me most don't sale what we offer... However if they take it why should I not buy it? I don't have a monopoly on it so it is just business... Cars, gold, parts, etc... all commodities to resale for a profit if possible...
I am also talking miniscule amounts as well. 30-40 bucks here and there for little bracelets and broken chains and stuff...
